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07.07.2008 Business & Finance

More Oil Finds Soon...GNPC Assures Nation

By Clement Atagra - newtimesonline.com
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THE Ghana National Petroleum Corporation, (GNPC), says more oil and gas would be struck in various locations of the country by the end of this year.

Besides Kosmos Energy, eight other exploration companies which have been granted permission to explore in Ghana's offshore waters, are making progress towards striking more oil and gas in their locations of operation, said Thomas Manu, Operations Manager of GNPC.

He was speaking to the Times on Saturday at a reception organised by KOSMOS Energy for five personalities who were honoured last Thursday by President Kufuor for their roles in the oil discoveries.

They are Mr Sekyere Abankwa, board chairman, Moses Oduro Boateng, Managing Director, Thomas Manu, Director of Operations, all of GNPC, George Yaw Owusu, Country Manager of Kosmos Energy, and Dr Kwame Barwuah-Adusei, Ghana's Ambassador to the United States of America.

Mr Manu said exploration is currently taking place in the Western, Central, and Volta regions.

Mr Manu said companies such as Afren, which is doing offshore deep water exploration at Keta, Gashop offshore at Saltpond, Hess, Tallow and Votale up-streams were all making significant progress in oil and gas discovery.

"Two others were recently approved by Parliament and they are yet to begin exploration," he told the Times .

Mr Yaw Owusu, Director of Finance of KOSMOS Energy, emphasised that a lot of measures were being put in place to ensure that the oil discovery in Ghana become a blessing and not a curse.

Mr Owusu advised Ghanaians against thinking that with the oil discovery, they will become millionaires overnight.

"The oil wealth and taxes will be used to invest in the people to ensure the prosperity of generations to come," he stressed.

The Country Manager for KOSMOS Energy, George Owusu, emphasised the importance of persistence in achieving greater heights.

He said they were confronted with a number of obstacles and discouragement, but with perseverance, they were able to overcome them.

Dr. Bawuah-Edusei, Ghana's Ambassador to the USA, said there are many opportunities the world over and strong partnership is needed to reap the full benefit of such opportunities.

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